GBP/JPY retraces downwards on Wednesday

Source: Dukascopy Bank SA


At midnight to Wednesday, the GBP/JPY pair encountered resistance at 168.35/168.45. During the first half of the day's trading, the pair was looking for support, as the 166.73/167.09 zone was observed to be acting as one.

A move below the 166.73 level might look for support in the 50-hour simple moving average near 166.40 and the weekly R2 simple pivot point. Further below, note the 166.00 mark and the 100-hour simple moving average at 165.70.

However, a resumption of the surge of the Pound against the Japanese Yen would have to pass the combination of the 168.35/168.45 and the 168.50 mark, before booking new high levels.
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.